IFCI very strong candidate among NBFCs: Seshadri Bharathan

ET now spoke to Seshadri Bharathan, MD & CEO, KSEMA Fincon Ltd, on his reaction to the news of RBI's draft paper, which said RBI seeks comment on bank licenses draft by September 30 and that NBFCs in real estate may not be eligible.

What is your reaction on this NBFC news?

Definitely it is a positive news but if you look at the entire discussion paper, the broader points are like the net worth has to be minimum Rs 300 crore. NBFC which goes for banking cannot get into lot of activities which are banned for banking side.

Which stocks would you buy on the back of this news?

Difficult call. My sense is that IFCI is a very strong candidate among all these NBFCs.